Agree with you Chad. Team Pandit just said THIS PAST MONDAY in his town hall that C is well capitalized and mgmt has comfort with their portfolio. What a joke. And Pandit sold his underperforming hedge fund to C for $800mm to get him on board for his inept leadership. What a scam.
Keep in mind Moody's playing a bit of catchup/cya given that its debt clearly trading at distressed levels...today 5 yr cds ~$25 pts up front and 2 yr maturities trading $65-70 range
Moody's places Morgan Stanley's A1 rating on watch for downgrade. So now Mack gets to whine about short sellers and rating agencies. Good purchase by MUFJ @ $25 when the stock is now trading at $12.50 before the investment is even closed.
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